REGULARS

Contents

4 Up front
Towers Watson replaces Russell for Thailand’s GPF; Prudential AM taking local businesses international; Value Partners targets mutual fund JV in China

9 Up front: on the move
Fullerton seeks CEO as Choy joins Harvest in HK; BlackRock hires Lavin Mok for retail fund sales

10 Operations manager
Wang Deying, Bosera Fund Management

12 Regulatory roundup
South Korea bans Deutsche Bank from prop trading; China to allow brokers to launch PE funds

14 Fund flows
For six months straight, Asian equity mutual funds have experienced net outflows

12 Q&A: Australia
A special series of interviews with superannuation fund executives from Rest Super, Victorian Funds Management Corporation and AustralianSuper

FEATURES
22 Superannuation funds ponder Asia role
AsianInvestor’s second investment conference in Melbourne saw superannuation CIOs, consultants and fund managers discuss allocating to Asia

24 Starved of dim-sum bonds
Private banks are ready buyers of synthetic renminbi corporate bonds, but fund managers seem to prefer the real thing. But there aren’t many CNH bonds available

28 An amicable split for CNH and RMB
Delegates gathered in Singapore in January to ponder the swift growth of the renminbi market at the RMB Rising conference

30 QDII is a lousy, yet beloved, business
Why do Chinese fund companies keep lauching overseas investment products that investors don’t seem to want?

32 FX opportunities get interesting
Emerging-market currencies are diversifying the investable universe and broadening currency’s appeal as an asset class

ALTERNATIVE INVESTOR
38 10-year recess for the private-equity jury
Despite the hype over China and India, the private equity industry is finding realities in Asia daunting

40 Private-equity hopes boomerang
Clogged exits and jittery pension funds make for a difficult private-equity environment in Australia

42 Japanese PE firms set hopes on public LPs
Japan’s public pension funds may be the last source of funding for an industry where large deals have proven elusive

48 Alternative Q&A
Richard Harris, Quam Asset Management

50 Alternative roundup
Artradis closes and CEO Sweeney joins Boyer Allen; Morgan Stanley welcomes Sinha back

ROUNDTABLE
44 Meditating on the macro
AsianInvestor hosted a roundtable discussion of some of Hong Kong’s prominent hedge fund managers and investors, who talked through the big themes for 2011, from China to raising assets

WITH THIS ISSUE
Trading Asian Equities